http://MikesDailyMarketReport.com:  We have no economic data to report today; however, tomorrow will bring some minor reports and Thursday/Friday will bring some higher impact reports.  Stocks are Up this morning shrugging the uncertainty of what's to come.  MBS is slowly improving, as it begins to approach it's 50 DMA.  Also, Yields are slowly dropping below it's Technical floor and 50 DMA.  It's just under it's 1.61% range.  Mortgage Rates will be a little better today!Please subscribe to my YouTube Channel at MikesDailyMarketRptAlso, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.  05/24/2021

http://MikesDailyMarketReport.com:  The IHS Markit PMI released it's Services and Manufacturing reports for May today.  the Services jumped up to 70.1 and Manufacturing climbed up to 61.5.  Both exceeded expectations!  However, Existing Home Sales continued to disappoint, as it reported a drop from 6.01 million annual units in March to 5.85 million in April.  Stocks are in Mixed Territory today, as DOW has been pretty much in positive territory for most of the morning; S&P has been dipping it's toe back a forth; and NASDAQ has been in the Red.  A few Fed Members are speaking today.  We had one Fed Member whom thought we should discuss tapering sooner than later; but for the most part, the others thought it was too soon to discuss tapering.  MBS is currently Up 2bps.  With the exception ... 05/21/2021

http://MikesDailyMarketReport.com:  Manufacturing in the Philadelphia region dropped more than expected, as the Philly Fed Index reported 31.5 for it's May report.  Initial Jobless Claims continue to decline, as 444k people applied for first time benefits last week; however, the Continued Claims did spike a bit last week (by approximately 100k) when it was trajecting lower each week.  Lastly, the Leading Economic Indicator jumped up 1.6% in April.  After 3 days of being in the Red, Stocks are reversing course and in Positive Territory today.  Yesterday, Investors were reviewing the FOMC Notes and saw the words tapering, which they began to panic (in both stocks and MBS Markets), as they felt the Fed would begin to taper sooner than expected.  However, today, they're reviewing the Minute... 05/20/2021

http://MikesDailyMarketReport.com:  There are no economic data to report today; however, the Fed will be releasing it's FOMC Minutes around 11am PST today, which the whole Market is on standstill, as Investors wait to view the Fed Members' comments on the latest CPI report.  Stocks are Down again today, as a result over Inflation worries.  Even though, we're seeing great results with the Earnings Reports, Investors are more concerned about Inflation.  Meanwhile, MBS and Treasuries have priced in the inflation data into it's current state.  MBS is currently Unchanged from yesterday's close.  Yesterday, MBS closed Up 13bps; so, some Lenders repriced late in the day with a very slight improvement in their ratesheets.  Those whom didn't reprice yesterday, then have priced it into today's ra... 05/19/2021

http://MikesDailyMarketReport.com:  Housing Starts was a big disappointment today, as it was reported a HUGE miss of 1.569 million seasonally adjusted annualized units for April (off it's forecast of 1.71 million).  This has everything to do with the supply and labor issues, which Builders are facing.  Meanwhile, Building Permits (our future Housing Starts) rose a smidgen in April to 1.76 million.  This tells us that Builders want to build, but are having issues with labor and supplies, in order to complete projects.  Stocks are Mixed (NASDAQ lone index in Positive Territory), as Investors are torn between the poor economic data today and some really good Earnings Reports, as such Home Depot crushed it's numbers.  Also, in the Mix are political discussions on a new Infrastructue bill, w... 05/18/2021

http://MikesDailyMarketReport.com:  Manufacturing in the NY region cooled a bit in May, as the NY Fed reported a drop from 26.3 (highest in 3 years) to 24.3.  Also, Home Builder Confidence remains Unchanged in May, as the NAHB Home Builders Index remained at 83.  Stocks are Down this morning, as Investors begin to worry about Inflation.  However, Fed Members continue with their message that it's too early to make any changes to their accomodative stance, as they believe the recent spike in inflation data is "transitory" due to the bottle neck in the supply chain; and it will work itself thru.  Meanwhile, MBS isn't so affected by the Inflation concerns with it's current position of being Down only 3bps; as Mortgage Rates are Unchanged from Friday's close.  Yields are also in Unchanged te... 05/17/2021

http://MikesDailyMarketReport.com:  Retail Sales had a very Big Miss today, as it was reported that April was Unchanged for MoM; and when you exclude (big ticket items) Autos, then it dropped 0.8%.  Capacity Utilization rose to 74.9% in April; and Industrial Production also rose by 0.7%.  However, Consumer Sentiment had a very Big Miss too, as it dropped from 88.3 in April to 82.8 in May.  It was expected to rise near 90.  Lastly, the Business Inventories rose 0.3% in March.  Stocks are Up today, even though there were some big misses with Retail and Consumer Sentiment numbers.  They're a bit optimistic with the news by CDC when they stated that those whom have been fully vaccinated should be ok without a mask; hoping this will further boost the economy.  MBS is Up 6bps so far this morn... 05/14/2021

http://MikesDailyMarketReport.com:  The Initial Jobless Claims continued to dwindle a bit lower, as this week's report dropped from last week's revised (higher) 507k to this week's 473k.  We have more inflation data today, from the Wholesale sector this time.  The Producer Price Index (PPI) rose 0.6% in April, while it's YoY rose 2.0% to 6.2%.  The Core PPI (excluding food and energy) rose 0.7% in April, while it's YoY rose 1.0% to 4.1%.  Stocks are back into Positive Territory after yesterday's big selloff.  Meanwhile, MBS is rebounding a bit too today, as it's currently Up 11bps and working it's way back above it's 50 DMA.  Mortgage Rates did have a slight improvement after yesterday's close, which had a few price changes to the worse; and closed Down 44bps.  Also, Yields are back bel... 05/13/2021

http://MikesDailyMarketReport.com:  The CPI report made a HUGE mark on the Markets today with it's April report, which shows it's MoM skyrocketing Up 0.8%, while it's YoY lunged upward from 2.6% to 4.2%.  Whe you exclude food and energy, then you have the Core CPI (this report holds more weight due to it being more of the base), which rose 0.9% MoM and it's YoY jumped up from 1.6% to 3.0%.  A healthy economy moves at approximately 2.0% inflation.  The Fed says it's transitory, but many investors are on edge that it may stick.  Time will tell!  Right now, it's a very real concern!  As a result, Stocks are plunging!  A few more Fed Members will be speaking today.  MBS had plummeted too, which it's Down 33bps now; so, Mortgage Rates have spiked a bit higher today, as a result.  Yields shot... 05/12/2021

http://MikesDailyMarketReport.com:  There are no data to report from the Economic Calendar.  We do have a 3 year Treasury Auction, but it doesn't have much impact on the Markets.  Tomorrow could have some catalysts to push the Markets one way or another.  We have the 10 year Treasury, which can have some impact with Mortgage Rates; but the BIGGIE is the CPI report.  Stocks are Down this morning on renewed concerns over inflation, which the CPI will report it's inflationary data for April.  It's expected to rise from 1.6% YoY to 2.3% tomorrow.  If we can stay below 2%, then the Markets may calm a bit.  If it hits above 2%, then they may snowball with their selling.  There are several Fed Members speaking today, so it's possible they may share their thoughts on this topic today too.  Mean... 05/11/2021

http://MikesDailyMarketReport.com:  There are no data to report from the Economic Calendar.  We'll start receiving data on Wednesday when we get a look at inflation, by the CPI report.  Stocks are Mixed today as we begin to wind down on the Corporate Earnings Reports.  There are a few Fed Speakers out today, which it's possible their comments could move the Markets.  Lastly, Investors are watching the Colonial Pipeline try to reopen after shutting down 45% of the east coasts energy when they received threats of a cyber attack.  MBS was fighting to go above it's 100 DMA, but have pulled back.  Lenders on the east coast may have priced in the better position and may face a reprice for the worse, as MBS pulled back a below the 100 DMA; while the west coast is seeing pricing as Unchanged fr... 05/10/2021

http://MikesDailyMarketReport.com:  Today is the BIG Day for economic data!  The Jobs Data from the Bureau of Labor Statistics (BLS).  The Non-Farm Payrolls had a HUGE Miss today, as they reported only 266k jobs created for April (when they had expectations of nearly a million); and March was revised lower, going from 916k to 770k.  The Unemployment Rate rose to 6.1% as a result of these very week numbers.  However, Average Earnings rose 0.7% in April, as Employers try to entice employees back to work.  Also, the Average Workweek Hours rose 0.1% to 35.0/week.  Lastly, Wholesale Inventories rose 1.3%.  Stocks are Up, even though the economic data was very weak.  Investors are looking at it as Bad News is Good News today.  A few Fed Members are speaking today; which Neel Kashkari (a Fed M... 05/07/2021

http://MikesDailyMarketReport.com:  Initial Jobless Claims dropped down to 498k in this week's report (ahead of an important data being released tomorrow, The Bureau of Labor Statistics Non-Farm Payrolls).  However, it is important to note that Continued Claims did have a slight uptick this week by about 37k.  We get our second look (with final results coming next month) at the Q1 Labor Costs and Productivity.  Labor Costs were Down by 0.3% during Q1 and Productivity rose by 5.4%.  Overall, our economic data was very healthy today!  Stocks are Mixed today, as Technology Stocks are pulling down NASDAQ.  The Q1 Corporate Earnings Reports overall continue to above expectations.  There are several members of the Fed speaking this week.  After Yellens interview on Monday, many have restated ... 05/06/2021

http://MikesDailyMarketReport.com:  The ADP reported only 742k in new private payrolls today, which missed the 800k forecasts.  However, March's data was revised higher from the initial at 517k to 565k.  Also, the ISM Non-Manufacturing PMI dropped in April from 63.7 to 62.7, which forecasts called for 64.3.  Both reports disappointed the Markets early on; however Stocks regained their Positive position.  Most are realizing that the ADP number, even though it missed, it's still a very good number, which we haven't seen in a long while.  Meanwhile, Janet Yellen clarified her remarks from the interview released yesterday that she wasn't trying to predict or influence the Fed into changing their stance on raising rates. MBS started a little lower today, but quickly went to "near" Unchanged ... 05/05/2021

http://MikesDailyMarketReport.com:  Factory Orders disappointed in March, as many economists had expected 1.3% (some even thought higher) MoM growth; however, it came in at 1.1%.  Stocks are Down this morning after comments by Treasurer Janet Yellen.  She indicated that the Fed could raise rates much sooner if the economy begins to overheat.  MBS was higher until those comments too; and is currently Down 2bps.  Mortgage Rates remained Unchanged from yesterday's close.  Yields have slid down further (including below it's 50 DMA); and are currently at 1.59%.Please subscribe to my YouTube Channel at MikesDailyMarketRptAlso, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I c... 05/04/2021

http://MikesDailyMarketReport.com:  ISM Manufacturing PMI came in a bit lower in April at 60.7, based on forecasts of 65.0.  Construction Spending also disappointed, as it was forecasted at 1.9% increase, and it just increased by 0.2% in March.  Stocks are Mixed today, as NASDAQ is lone index in the Red today.  There was some positive economic data out of Europe, along with lower COVID cases.  This initially lowered MBS, which recovered somewhat; and it currently just down 3bps.  It did test much higher levels, but we're currently at previous high levels.  It may take a bit more to push it higher.  Mortgage Rates are currently Unchanged from Friday's close.  Yields had started higher and have subsided too; down to 1.61%.Please subscribe to my YouTube Channel at MikesDailyMarketRptAlso, ... 05/03/2021

http://MikesDailyMarketReport.com:  Today is the day for the BIG Inflation data!  The Personal Consumption Expenditure, or PCE, rose 0.5% in March; and it's YoY rose from 1.6% in February to 2.3% in March.  When you exclude the volatility of food and energy, the you receive the Core PCE (or Fed sometimes refers to it as "Real Inflation"), which rose 0.4% while it's YoY rose from 1.4% to 1.8%.  The Fed has warned this spike is just transitory, but we'll definitely monitor it and see if it becomes embedded into future costs.  Consumer Spending rose 4.2% in March, as the Stimulus checks have helped to bump up this area; and also, Personal Income 21.1% in March.  Wage costs have increased Employment costs, which is adding more to our inflation data.  Something to continue to monitor!  Meanw... 04/30/2021

http://MikesDailyMarketReport.com:  Initial Jobless Claims reports came in at 553k this week, which is lower than last week's revised (higher) 566k number; also, due to lower revision to Continued Claims, this week's data came in a bit higher.  Q1 GDP's initial data came in at 6.4%.  We'll receive 2 more reports, with the final being released in June.  Pending Home Sales disappointed with a 1.9% increase in March with expectations of 5.0%; however, it's difficult to have those numbers when the supply isn't there, as we continue to face historically low inventory levels.  Stocks are currently Up, as NASDAQ was facing concerns over rising Yields earlier.  Early on, Yields touched on 1.67%, but has subsided down to just under 1.65%.  Yesterday, it finished below it's 50 DMA and Technical f... 04/29/2021

http://MikesDailyMarketReport.com:  There are no economic data to report today; however, we did receive the MBA's weekly Mortgage Application, which was lower than last week's report (despite lower rates).  This was for both purchase and refinance applications!  Stocks are still in Mixed Territory, as the S&P (again) the lone index in Positive Territory.  The FOMC wraps up it's meeting today with Chair Powell providing his announcement at 11:15am PST.  Nothing is expected to change, as the Fed has been very consistent with it's message.  The Markets still seem to be pulling back just before his announcement, so it could be a bit volatile after he gives his press brief.  The same for the MBS Market, as it started much lower and even poked it's head in positive territory to now sitting Do... 04/28/2021

http://MikesDailyMarketReport.com: We have 2 Home Price Indices (HPI) to report today.  The first is the 20 city (20 of the largest market cities) by Case Shiller rose 11.9% YoY; and the FHFA HPI, which gathers it's data from Conforming loan programs, rose 12.2%.  Both were for February.  Lastly, the Consumer Confidence spiked in April, going from 109.0 in March to 121.7 for April.  Stocks are trading in Mixed Territory, as S&P 500 is the only index in Positive Territory.  Investors are watching Q1 Earnings Reports, which we're expecting high impact Tech stocks this week.  Also, the FOMC begins their 2 day meeting today and provide their announcement tomorrow.  Look for Powell to keep the same comments and try to keep it tepid, so he doesn't sound too excited about the economy, which ma... 04/27/2021